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19879 articles published since 08 Mar 2022

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US Fed chair contender backs October rate cut
US Fed chair contender backs October rate cut
Business and Economy

A top contender to run the US Federal Reserve threw his support Thursday behind a quarter-point rate cut later this month, claiming he believed inflation would soon cool. Cooling growth would support another cut, while doing so if the labor market strengthens could would risk reigniting inflation.

Armani names executive close to designer as new CEO
Armani names executive close to designer as new CEO
Business and Economy

The Armani Group on Thursday named a senior manager who worked alongside Giorgio Armani to take over as chief executive of the luxury empire following the designer's death. For the past six years he had been reporting directly to Armani as deputy general manager and global chief commercial officer of the group.

Greece lawmakers back plan to allow 13-hour workday
Greece lawmakers back plan to allow 13-hour workday
Business and Economy

Greece's parliament on Thursday approved a government-backed bill allowing people to work 13-hour days, despite fierce objections from trade unions and opposition parties. The government insists that the 13-hour workday is optional, only affects the private sector and can only be applied up to 37 days a year.

Nestle to cut 16,000 jobs worldwide
Nestle to cut 16,000 jobs worldwide
Business and Economy

Nestle, the Swiss food giant whose brands include Nespresso coffee and Perrier water, announced Thursday plans to cut 16,000 jobs worldwide over the next two years, sending its share price soaring. The layoffs include 12,000 white-collar jobs over the next two years, saving the company one billion Swiss francs -- which it said was double what had been previously planned.

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